The Research On The Influence Factors Of RMB Cross-border Settlement

With the development of economic in China, the improvement of participation in global trade and the extent of international cooperation, RMB is getting many concerns from all related parties in world, the International of RMB has frequent went into the theoretical study and information in various horizon.In particular, the outbreak of the global financial crisis,the current International monetary system exposed the inherent defects, the intertionalization of RMB become a hot topic again.RMB cross-border settlement, is of great Practical significance for the regional economice development and promotion between China and neighboring countries, to avoid for foreign exchange risk and improve our trade terms in trading with other non-dollar countries, it can promote the steady growth of China, foreign trade as well.Meanwhile cross-border settlement of RMB marks the expansion of border trade from Border trade to normal trade, with very important historical significance.The cross-border RMB settlement is the first step of globalization of RMB, also is the main body of globalization of RMB.Based on the current cindition, promote the internationalization of RMB is our country’s important policy. Otherwise cannot establiah the status of our country in the world.Since the pilot of RMB cross-border settlement, oour country launched a series of promoteing RMB cross-border settlement measures and policies. Because of the interest drive, commercial banks establish branches all around the word.More and more companies wang to go out.Because of strong promotion from the government and great benefit of the enterprises, it is developing fast.But because the shortage of total amount of RMB in the international financial market and most of the foreign enterprises still can’t accept RMB as their settlement currency, it still has a long way to go with a lot of difficulties and problem from the begging of the trying period.The paper introduced the theories of currency intertionalization, It’s a systematic study of the development status of RMB cross-border settlement The mainly study is the summary of RMB cross-border settlement:Chinese enterprises without of the right to choose settlement currency beeause under the lowest level in international work division; narrow channels to fiow out; the lack of RMB liquidation channel; unperfect government regulation.Use the econometric analysis method to analysis the influence factors. At last put forward the suggestion:improve the RMB exchange rate formation mechanism, use RMB to settlement, accelerate the implementation of the RMB capital accont convertibility, strengthen the RMB financial product pricing power, broaden the offshore RMB backflow channel.